Apparel sector needs to enhance labour productivity, urges CB
30 Jan '06
1 min read
Central Bank (CB) has urged apparel units to increase labour productivity and adopt cost-effective technologies to cope with more challenges in post-MFA (Multi-Fibre Agreement) period.
The Bank advised local industry to be competitive as Indian and Chinese apparel units have posed a threat to Bangladesh's factories in global ready-made garments (RMG) market.
Giving the solutions to enhance productivity, Bank suggested resourceful port services to help apparel factories lessen lead time.
Wages of workers should be revised with other benefits in proportion to cost of living.
Talking about RMG products, bank indicated that products are focused on low value items like men's shirts, T-shirts, women's skirts and blouses.
These products earn low profit in comparison to other items and therefore, meet with strong competition from manufacturers of other countries, the bank said.
Bank also pointed out comparatively slow development of backward linkage industries in Bangladesh RMG sector.
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